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My prediction is an AM gap and crap to burn some shorts in premarket trading. Hopefully some shorts available during the spike.
I think more like they came home to check their stock and now on suicide watch as they lost 90% of heir money today.
forreally bruh?
Volume picking up too. 700k share block.
Stop spreading non sense. Provide links with proof or stop writing fables.
bouncing now.
Warren must be in there after hours.
trading .94
$GTAT
WARREN BUFFETT wants to buy this technology, wait for the DEAD CAT BOUNCE
he was negative, didn't you see his madmoney edition, he said when it was at 12$ to sell because they didn't get the apple contract
Careful! You might get stones thrown at you for your rationale outlook...
I thought about it and puked twice.......lol.......crazy % gains on the way down.......GTAT Puts were legendary today................$$$
I think that is an old wise tale.............watch the videos and you'll find simple support & resistance lines..........the videos are neutral IMO & do not have a bull or bear bias..........like the videos say "No Emotion"...........$$$
uh oh Clay is here. you know this one is DOOMED!
you are right shares getting canceled would be a long time away. minimum a year or two before stuff goes through court, possibly longer unless something unexpected comes up sooner.
guess question is now whether this goes pink sheet soon and gets a Q. fingers crossed, that would likely give it one last flush and nice bounce followed by lot of ?s
wont be needing this chart anymore...Let the lawsuits begin
Well Cramer recommended this stock in August, and according to forms 4, there was allot of insiders selling
On September 9th the company came out with a negative PR. Since then there are posts on this board complaining that Cramer is negative on GTAT.
* * $GTAT Video Chart 10-06-14 * *
Link to Video - click here to watch the technical chart video
That is certainly what I would be doing if I was managing
a fund. Easy money to 1000% gain.
whats up with the 1.60 trades at 4:08?
maintain operations of our diversified business
I really hate that so many ppl lost so much here today. I nearly shorted this last week but the bounce Thursday spooked me. I really thought it was about to turn around. Jeez.
They definitely are helping the short coverage...Some will hang all the way to BK and hope shares are wiped out..
exactly... if it werent for that or possible dilution i would jump in without a second thought
$GTAT
There is a long legal road to travel in Chapter 11 proceedings
before shares get cancelled. The presiding judge hasn't even
been appointed much less court dates announced. Many
iHubbers specialize in BK tickers. I believe there is even a
board for it.
Yup, god forbid they should be forced to cover their $11 shorts at $1, they need it lower! Effing crooks
They keep trading them over and over...scalpin' it to hell...lolzzzz...big houses against big houses for fractions...
Like a hot potato game...no one wants the last shares at close... they could wipe them all out as one possibility...
Nothing like another good short attack to end the day here, sigh
LOL....you've got that right Atlanta!
Same here....announcement of Johnson & Weaver litigation spooked me.
Just one of many ambulance chasers that will be showing up in the next few days.
Yeah I was eyeing it all day wondering if it would go up, looks like I'll wait on the sidelines to see if they cancel shares or not.
$GTAT
I can agree with that.
$GTAT
Wiz, never expected you here my friend!
$1 for some cheap scratch off ain't a bad lotto play. But?
What I am wondering is....... Will they cancel the shares...... Tonight? Also, this could be on the OTC with a Q when they file. Tomorrow?
I am like most everyone else. Some bad mojo with Apple must've gone down. Maybe they can't deliver up the parts at the quality level Apple insists upon. Just guessing like everyone else. Maybe they make up with Apple and it flys back to a few bucks. It's the possibility of share canceling gives me pause here.
Best of luck. jmo
Johnson & Weaver have now arrived to handle potential shareholder litigation against GTAT....red flag IMO.
They're not that solid. Read their filings.
This is more of a "technical" bankruptcy.
GTAT is a solid company with several product lines, and is NOT going out of business.
No telling where the bottom is, but this is quite an opportunity, imo..
I have bought today with an avg around $1.00
GTAT Here's The Best Theory We've Heard For Why A Company That Was Worth $1.5 Billion On Friday Filed For Bankruptcy On Monday
GT Advanced Technologies, which makes sapphire glass components for smartphones, filed for bankruptcy on Monday. Sapphire glass is an ultra-strong material, which Apple uses on both the camera lens and fingerprint scanner on the new iPhone. However Apple doesn't, contra to some expectations, use the material for the iPhone's main display.
The move caught the market flat-footed, and after the announcement, shares of the company were down 90%.
The drop in shares of GT Advanced on Monday has taken the company's market cap from roughly $1.5 billion Friday to about $175 million.
At least one analyst that Business Insider has heard from following the announcement sees one possible reason for the sudden change from GT Advanced: Apple pulled the plug.
Jeffrey Osborne, an analyst with Cowen & Company, wrote that Apple, which loaned GT $578 million as part of a supply agreement last November, "had the ability to call the interest free loan back and it appears they have done that."
Last November, GT Advanced and Apple entered a multi-year sapphire materials agreement that would include GT manufacturing sapphire materials at an Apple facility in Arizona. That agreement said that GT would reimburse Apple over five years, starting in 2015.
In his note, Osborne wrote that the agreement with Apple, "was made in order to allow GT to purchase components for the manufacture of ASF systems at the Arizona facility leased from an Apple affiliate company."
"Repayment was initially scheduled to begin January 2015 and follow a five-year schedule," Osborne wrote. "In its repayment terms, it is most likely that a substantial amount of additional current portion of prepayment was triggered as a result of covenant terms held between GTAT and Apple in relation to operating and financial metrics that the company likely failed to meet."
Osborne also noted that GT's cash and equivalents fell to $85 million on Monday from $333 million back in June, and while Osborne hasn't yet been able to confirm this, it seems this drawdown most likely resulted from early repayment triggers in the Apple loan.
Monday's news comes about a month after Apple announced its latest iPhone models, which some investors were betting would feature a full sapphire display.
They didn't, and immediately following that announcement shares of GT Advanced sold off. And since that news, GT shares have fallen about 40%.
And while 40% is a steep drop, this decline in a stock is rarely enough, on its own, to precipitate a bankruptcy filing.
In its announcement on Monday, GT said the bankruptcy filing, "does not mean we are going out of business; rather, it provides us with the opportunity to continue to execute our business plan on a stronger footing, maintain operations of our diversified business, and improve our balance sheet."
But whatever the case, something changed at GT and changed quickly.
This could be at least one reason why.
Goes to show you the conviction many longs have when
they bash day traders.
Bought a few thousand shares, in for the Long - If they remain to be apples supplier this will bounce back nicely within a few months, not to the same tune but to a similar one..... jk :)
$GTAT
PREDICTIONS OVER THE NEXT FEW DAYS 2$ PERHAPS
Ummm, isn't the O/S 137M? There have been 150 million shares traded today . . .
Do bet your bank roll on it...at the very, very least they will get diluted heavily...
GTAT opened severely overvalued and it will close severely undervalued. Crazy how the market works. As O Warren says Buy when theirs blood in the streets. My friends the streets are bloody today.
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